Signing agreement to issue 400 million euro and 100 million dollars in privately placed notes

Date: 16.11.2023Source: FrieslandCampina

FrieslandCampina has entered into an agreement for the issuance of privately placed notes, which would constitute long-term financing of 400 million euros and 100 million dollar (together 496 million euros equivalent). The ESG-linked notes will be issued in the US Private Placement (USPP) market. Final closing, issuance of the notes and funding is scheduled for 1 February 2024 and is subject to standard closing conditions. Once closed and funded, the proceeds will be used to repay maturing debts in 2024. The loans consist of four tranches with maturities due in 2032, 2034 and 2036.

The offer received an overwhelming response from the market, attracting investors from both Europe and North America. The final transaction includes a tranche of 100 million dollars in notes that will mature in 2032, as well as tranches aggregating 400 million euros in notes, with maturity dates in 2032, 2034 and 2036. The average interest rate on the loans will be 4.99 percent.

Said Hans Janssen, Royal FrieslandCampina N.V.’s Chief Financial Officer: “The successful launch of the notes offering is a testament to the high demand for our company’s ESG-linked USPP notes. This placement will solidify our long-term funding. The overwhelming response confirms investors’ confidence in FrieslandCampina’s future.”

FrieslandCampina launched and priced its USPP notes with the support of JP Morgan, Rabobank, ING and MUFG.  For more visit FrieslandCampina.com

David Cox / IDM

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